Insurer RSA taps former RBS boss Hester as chief executive February 4, 2014 STEPHEN Hester has been announced as the new chief executive of troubled insurer RSA. He will receive a £950,000 pay packet and a possible bonus worth 300 per cent of his salary in the first year. Hester takes over from Martin Scicluna, chairman of the group, who took on the role of interim chief executive [...]
How to get around during the strikes February 4, 2014 BACK TO NORMAL on Friday 7 February SECOND STRIKE 9.30pm 11 February – morning of 14 February BAKERLOO Trains between Queen’s Park and Elephant & Castle every six minutes in both directions. Not stopping at Edgware Road, Embankment, Kilburn Park, Lambeth North, Maida Vale, Piccadilly Circus or Regent’s Park CENTRAL No service through the central [...]
Global growth has peaked for now – but no need to panic February 4, 2014 IT’S NOT time to panic about the global economy just yet. Yes, equity markets are in freefall left, right and centre but the situation is far from universally disastrous. Growth is slowing after a strong run but isn’t about to end. There’s little chance of broad-based global deflation. The Fed’s belated decision to reduce the [...]
Boris and union bosses fail to avoid walkouts February 4, 2014 COMMUTERS are enduring the first day of disruption thanks to a 48-hour Tube strike that was branded “shameful” by the Prime Minister yesterday. Transport for London is trying to run a reduced service on almost all lines and has scheduled extra buses on the busiest routes. But the industrial action this week and next is [...]
What the other papers say this morning – 05 February 2014 February 4, 2014 FINANCIAL TIMES Deutsche aims to regain lost ground Deutsche Bank has appointed a new New York-based co-head of fixed income trading as the lender adds senior staff and billions in capital to its US business to regain lost ground in the largest investment banking market in the world. Rich Herman has been elevated to the [...]
US stocks pare losses as steady data calms bears February 4, 2014 US STOCKS bounced back yesterday, following Monday’s sell-off and the bigger slump that hit Asian markets, buoyed by better data on the health of American industry. The Institute for Supply Management (ISM) assessment of January factory conditions in New York came in slightly stronger than expected, and although factory orders fell 1.5 per cent from [...]
Chancellor: Workable monetary union unlikely if Scotland splits February 4, 2014 A WORKABLE monetary policy between an independent Scotland and England would be unlikely, the chancellor has told a committee. George Osborne told a Lords committee yesterday: “You have heard now from the governor of the Bank of England, from myself and from a number of other people about the fact that the assertions the SNP make [...]
BP boss warns against Scottish independence February 4, 2014 BP CHIEF Bob Dudley yesterday warned that Scottish independence would cause uncertainties for Britain’s oil and gas industry, ahead business secretary Vince Cable’s grilling from MPs on the issue today. Dudley said that there were “big uncertainties” surrounding a Scottish currency and that the FTSE 100 oil giant’s overheads would rise if Scotland left the [...]
Analyst Views: What’s your breakdown of BP’s fourth-quarter results? February 4, 2014 LUCAS HERMANN | DEUTSCHE BANK In the upstream division, numbers were around $200m shy of our expectations at $3.9bn. The quarterly dividend of 9.5 cents per share, up from 9 cents, was expected. The company forecasts a production decline in 2014 but this was also expected due to the loss of a concession deal in [...]
Trouble ahead for BG Group February 4, 2014 ANY OF BG’s assets could be put on the block, its chief executive said yesterday, as the group unveiled poor results. Chris Finlayson said that the company “will keep all assets under review” but refused to comment on widespread speculation that the whole firm may become a takeover target. BG posted a fourth-quarter loss of [...]
